Lloyds PPI compensation bill set for increase

As we head towards the season in which banks and lenders announce their quarterly targets, we expect the PPI bill to increase further.

The biggest culprit in the PPI mis-selling scandal is the Lloyds Banking Group, incorporating Lloyds, Halifax, Bank of Scotland and Blackhorse.

The Lloyds Banking Group’s quarterly figures are set to be announced on or around 31st July.

What increase are we likely to see?

Whilst it is yet to be confirmed we are hearing rumours that the latest addition to the Lloyds PPI compensation bill could be a staggering £1 BILLION!

If this figure is correct it would stand the Lloyds Banking Group fund at £13.8 billion.

This addition would also edge the overall PPI bill closer to the £30bn mark, given it is currently sat at £28.6bn.

Much troubled bank

We recently brought you news of the biggest ever fine to date being handed to the Lloyds Banking Group due to their serious failings in handling complaints.

This latest news will no doubt be a further indication that the huge scandal still has years left to run.

Previous quarterly figures

Much as in 2014, Lloyds announced in the first quarter of the year that it did not intend on adding further compensation to its bill.

This prompted so called city experts claiming that the PPI saga was coming to an end, much to our disagreement.

It appears we were correct and we look forward to the next couple of weeks when the major banks release their figures and the PPI compensation fund edges closer to the £42bn we believe it should be.

Have you had PPI?

PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.

Not sure whether you’ve been sold PPI?

Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.

Not sure whether you qualify? Check here to see whether you may.

Our average successful customer award is £3,332**!

Want to know how much you may be owed? Why not try our PPI calculator.

Making a Lloyds PPI Claim

Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your Lloyds PPI claim.

Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.

Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.

So….why wait, let’s get started!

Lloyds PPI compensation bill